AGP Executive Report
Last update: 9 hours agoMining policy & community pushback: The Catholic Bishops’ Conference of the Philippines says it will intensify opposition to mining and “aggressive development,” setting up an Integral Ecology Ministry to widen its environmental advocacy. Illegal mining crackdown: Pakistan police arrested six men for illegal placer gold mining along the Indus River and seized extraction machinery, warning of continued action against unpermitted mining. Project development (gold): Horizon Gold advanced its Gum Creek Gold Project with a definitive feasibility study targeting a 10-year operation producing about 880,000 ounces, aiming for first production in the second half of 2028. Copper project paperwork: Surge Copper filed its NI 43-101 technical report for the Berg Copper Project, supporting its pre-feasibility study progress toward feasibility and environmental assessment. Corporate results (gold/copper): Philex Mining posted a first-half net loss of P200.4m despite a stronger Q2, citing unrealized forex losses; Hudbay also reported solid Q2 output and reaffirmed guidance. Safety & ESG: ICMM said member fatalities fell to 39 in 2025 but warned the broader trend since 2021 remains concerning, urging stronger fatal-risk prevention. Energy transition tie-in: RWE is building a 236 MW/470 MWh battery storage facility at the Hambach mine site, targeting grid balancing from 2027. Finance & metals demand: World Gold Council reported global gold demand was flat at 1,269 tonnes in the June quarter, with ETF investment cooling as prices moderated. Uranium build (Canada): Denison Mines moved Phoenix uranium project into full-scale construction, including a freeze-wall approach to contain mining solutions. Crypto mining fraud (Russia): BitRiver founder Igor Runets was transferred to pretrial detention over alleged $12.5m equipment fraud tied to En+ Group.
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